Millrock Reports Drill Results From La Navidad Gold Project VANCOUVER, British Columbia, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that the second phase of core drilling on the La Navidad gold project has been completed. The program was designed to test geological targets identified through soil and rock sampling, geophysical surveys and trenching. The drill holes targeted the Crossover and Cobre prospects. The Navidad project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits and is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). In total, 2,969 meters in 14 holes were drilled. Additionally, Hole NV-010 initially drilled in the first drilling campaign was deepened. The table following on the next page indicates significant and anomalous drill intersections for gold in grams per metric tonne (“g/t”). Highlights of the program with two different cutoff grades are shown on the table immediately below:
Hole
Number | Downhole
Intersection | Gold Grade
(using 0.1 g/t cutoff) | Downhole
Intersection | Gold Grade
(using 0.05 g/t cutoff) |
| | | | | |
| NV-013 | 12.5 meters | 1.14 g/t gold | 14.0 meters | 1.03 g/t gold |
| NV-014 | 8.0 meters | 0.46 g/t gold | 20.3 meters | 0.22 g/t gold |
| NV-015 | 8.7 meters | 0.43 g/t gold | 8.7 meters | 0.43 g/t gold |
| NV-019 | 7.9 meters | 2.34 g/t gold | 10.2 meters | 1.83 g/t gold |
| NV-021 | 17.4 meters | 1.61 g/t gold | 64.2 meters | 0.57 g/t gold |
| NV-024 | 9.2 meters | 0.71 g/t gold | 15.1 meters | 0.46 g/t gold |
Millrock President & CEO Gregory Beischer commented: “Some strong results were obtained in this program from the Crossover and Cobre prospects with anomalous gold over significant core intervals. More drilling will be necessary to determine whether there is continuity between the discrete zones of mineralization intersected.”
Note: The mineralized intervals reported in the two table in this disclosure are down-hole, measured thickness. Based on initial interpretations it appears the mineralized zones intersected dip shallowly to the north at 15 degrees. However, there is not enough geologic control at this point to verify the interpretation and therefore to make an accurate estimate of true width with confidence. In particular, it is noted that hole NV-021 may have been drilled sub-parallel down the dip of several gold-mineralized structures. For the composited values reported, a 0.1 gram per tonne gold cut-off was used, and a maximum allowable internal dilution thickness of 3.0 meters was used. See note below concerning quality control – quality assurance.
| | | |
| | Hole # | From
(m) | To
(m) | Length
(m) | Au
ppm | |
| | NV-010 | 285.1 | 289.0 | 3.9 | 1.78 | |
| | Including | 285.1 | 287.0 | 1.9 | 3.21 | |
| | | | | | | |
| | NV-013 | 43.5 | 56.0 | 12.5 | 1.14 | |
| | Including | 49.8 | 50.6 | 0.8 | 2.76 | |
| | | 50.6 | 51.5 | 1.0 | 4.78 | |
| | | 51.5 | 53.5 | 2.0 | 2.73 | |
| | | | | | | |
| | NV-014 | 12.5 | 20.5 | 8.0 | 0.46 | |
| | NV-014 | 29.6 | 35.9 | 6.3 | 0.39 | |
| | NV-014 | 98.8 | 102.0 | 3.3 | 3.84 | |
| | Including | 100.2 | 102.0 | 1.8 | 6.30 | |
| | | | | | | |
| | NV-015 | 33.5 | 42.2 | 8.7 | 0.43 | |
| | Including | 35.5 | 37.5 | 2.0 | 1.31 | |
| | NV-015 | 66.0 | 75.0 | 9.0 | 0.39 | |
| | NV-015 | 71.5 | 75.0 | 3.5 | 0.52 | |
| | | | | | | |
| | NV-016 | No significant results | |
| | | | | | | |
| | NV-017 | 98.7 | 104.2 | 5.5 | 0.72 | |
| | NV-017 | 107.2 | 115.7 | 8.5 | 0.39 | |
| | | | | | | |
| | NV-018 | 0.4 | 3.0 | 2.6 | 1.73 | |
| | Including | 0.4 | 1.7 | 1.3 | 3.28 | |
| | NV-018 | 61.0 | 67.2 | 6.3 | 0.43 | |
| | | | | | | |
| | NV-019 | 89.7 | 97.5 | 7.9 | 2.34 | |
| | Including | 94.9 | 97.5 | 2.7 | 6.68 | |
| | | | | | | |
| | NV-020 | 3.3 | 9.3 | 6.0 | 0.45 | |
| | | | | | | |
| | NV-021 | 17.3 | 34.7 | 17.4 | 1.61 | |
| | Including: | 17.3 | 18.3 | 1.0 | 12.90 | |
| | | 21.3 | 22.3 | 1.0 | 6.56 | |
| | | 30.9 | 32.0 | 1.2 | 1.26 | |
| | NV-021 | 38.9 | 50.4 | 11.5 | 0.24 | |
| | NV-021 | 54.8 | 64.7 | 9.9 | 0.21 | |
| | NV-021 | 114.7 | 116.7 | 2.1 | 0.80 | |
| | NV-021 | 170.9 | 183.3 | 12.4 | 0.18 | |
| | NV-021 | 188.5 | 190.5 | 2.0 | 1.45 | |
| | | | | | | |
| | NV-022 | 23.3 | 25.0 | 1.7 | 1.03 | |
| | NV-022 | 154.3 | 158.1 | 3.8 | 0.69 | |
| | Including | 155.6 | 156.9 | 1.3 | 1.69 | |
| | NV-022 | 168.3 | 181.8 | 13.5 | 0.36 | |
| | NV-022 | 193.4 | 195.7 | 2.3 | 0.99 | |
| | | | | | | |
| | NV-023 | 158.5 | 162.0 | 3.5 | 0.87 | |
| | Including | 158.5 | 159.7 | 1.2 | 1.87 | |
| | | | | | | |
| | NV-024 | 133.1 | 142.3 | 9.2 | 0.71 | |
| | Including | 135.3 | 137.5 | 2.2 | 1.21 | |
| | | | | | | |
| | NV-025 | No significant results | |
| | | | | | | |
| | NV-026 | No significant results | |
| | | | | | | |
Since forming an option to purchase agreement with the underlying mineral right owner of La Navidad in June 2017, and a simultaneous option to joint venture agreement with Centerra, Centerra and Millrock have collaborated to execute a comprehensive exploration program. Initial surface exploration results were reported in this press release and results of the first drilling program was reported in this press release by Millrock. Centerra is funding the exploration work to earn an interest in the project.
Corporate Developments
Darryl Cardey has tendered his resignation as a Director of Millrock for personal reasons. The Company thanks Mr. Cardey for eleven years of service and guidance since the inception of Millrock in 2007.
Millrock has sold 6,450,000 shares of PolarX Mining Ltd at AUD$0.105 for gross proceeds of AUD$677,350.
Read more at https://www.stockhouse.com/news/press-releases/2018/08/09/millrock-reports-drill-results-from-la-navidad-gold-project-sonora-state-mexico#mh1jgiuU2mJ9gCes.99